Free Bet / Bonus Bet Converter
Convert a free bet or bonus bet into guaranteed cash by hedging the opposite outcome.
Got a boosted price instead of a bonus credit? Jump to the odds boost value calculator below to check whether it's actually +EV.
What happens in each scenario
Grab a qualifying free bet at MyStake, then lock the conversion here — the 120% up to €600 welcome gives you bankroll to run more of these.
MyStake · 120% sports bonus up to €600 · 18+ · sponsored
You found the edge — now get the price.
The calculators do the math; these are the books readers use to put it to work. Each bonus adds bankroll, so a real edge compounds faster.
1Win
Best for arbitrage & value betting — high limits, wide line selection, instant withdrawals.
BetMathMyStake
Great sportsbook + casino combo. 6,400+ games, 20+ sports, crypto-friendly.
How to Convert a Free Bet to Cash
A free bet (also called bonus bet, freeplay, or credit bet) is a promotional wager where the bookmaker covers the stake. If it wins, you receive the profit but not the stake back — this is called SNR (Stake Not Returned), the most common type. A $50 free bet at 3.00 wins $100 profit (not $150, because the $50 stake is not returned). To convert this to guaranteed cash, you hedge the opposite outcome.
The formula: Hedge Stake = Free Bet Stake × (Free Bet Odds − 1) / Hedge Odds. This sets the hedge so that whichever side wins, you get the same cash amount. The guaranteed cash equals the hedge stake multiplied by (hedge odds − 1). The conversion rate = guaranteed cash / free bet stake × 100.
The single biggest lever on conversion rate is the free bet odds. Using a free bet at 2.00 (evens) typically converts at around 50% — you'd get $25 from a $50 free bet. Using the same free bet at 5.00 (with a matching hedge at the appropriate implied probability) converts at ~80%, giving $40 from the same $50 bonus. This is why experienced matched bettors specifically seek high-odds markets for their free bets, then find the sharpest available price for the hedge on a betting exchange.
Betting exchanges (like Betfair) are ideal for hedging because their margins are typically under 2% (vs 5–10% at sportsbooks), maximizing the conversion rate. If you don't have exchange access, look for the tightest priced opposing market at a sharp bookmaker and accept a slightly lower conversion rate.
Free Bet Conversion Formula
Hedge Stake = FreeBet × (FreeBetOdds − 1) / HedgeOdds Guaranteed Cash = HedgeStake × (HedgeOdds − 1) Conversion Rate = GuaranteedCash / FreeBet × 100 Example: $50 free bet at 3.00, hedge at 1.55 Hedge Stake = 50 × 2 / 1.55 = $64.52 Guaranteed Cash = 64.52 × 0.55 = $35.48 Conversion Rate = 35.48 / 50 × 100 = 70.96%
Frequently Asked Questions
What is a free bet converter?
A free bet converter (or free bet calculator) finds the exact hedge stake needed to convert a free bet into guaranteed cash. By placing the free bet on one outcome and hedging the opposite with real money, both outcomes net the same cash amount — turning the bonus into a certain value.
What conversion rate should I expect?
60–85% is typical. The rate depends on the free bet odds and hedge odds (bookmaker margin). Higher free bet odds produce better conversion rates. Using a betting exchange for the hedge side typically adds 5–10% to conversion vs using a sportsbook.
What is SNR vs SR?
SNR (Stake Not Returned) means your free bet stake is not returned when it wins — only the profit. This is the most common type and what this calculator uses. SR (Stake Returned) means you get the full payout including stake back when the free bet wins, making it more valuable and requiring a different hedge calculation.
Can I use this for welcome bonuses?
Yes. Welcome bonuses from bookmakers are almost always issued as SNR free bets after qualifying bets are settled. This calculator works for any SNR free bet: welcome bonuses, reload bonuses, and promotions. Check that the free bet has no odds restrictions before placing at high odds for better conversion.
Odds Boost Value Calculator
A sportsbook odds boost (also called a profit boost or price boost) moves your price from something like 1.91 to 2.50 on the same selection. That is not automatically a good deal — a bigger number is not the same thing as positive expected value. What matters is your real win probability against the boosted price, not the marketing around it.
The tool below runs the same EV math used across BetMath on a boosted price instead of a free bet credit: it compares expected value at the normal odds against expected value at the boosted odds, and reports the fair dollar value of the boost itself — separate from whatever edge (or lack of one) already existed in the bet.
A boost is genuinely +EV exactly when the boosted odds clear 1 / your true win probability — equivalently, when the boosted implied probability drops below your real chance of winning. A boost from 1.91 to 2.50 still needs a true win probability above 40% (1 ÷ 2.50) to be worth taking; below that, no boost percentage rescues a genuinely bad bet, it just loses less on average.
This was +EV even before the boost — the boost is pure profit. Max it out.
Odds Boost EV Formula
EV (normal odds) = WinProb × NormalOdds − 1 EV (boosted odds) = WinProb × BoostedOdds − 1 Boost Value ($) = (EV_boosted − EV_normal) × Stake Breakeven Win Prob = 1 / BoostedOdds Example: 50% true win probability, odds boosted 1.90 → 2.50, $50 stake EV normal = 0.50 × 1.90 − 1 = −0.05 → −$2.50 on $50 (this bet alone is −EV) EV boosted = 0.50 × 2.50 − 1 = +0.25 → +$12.50 on $50 Boost value = $12.50 − (−$2.50) = $15.00 Breakeven prob at 2.50 = 1 / 2.50 = 40% — since 50% > 40%, the boosted bet is +EV
Odds Boost FAQ
What is an odds boost worth in dollars?
Take your true win probability × boosted odds − 1 to get EV per dollar at the boosted price, then subtract the same calculation at the normal odds. Multiply the difference by your stake. A 55% shot boosted from 1.91 to 2.50 on a $50 bet is worth roughly $16 more in expectation than betting it unboosted.
Is an odds boost always positive EV?
No. A boost is +EV only when the boosted odds clear 1 / your true win probability. A boost to 2.50 needs a real win chance above 40%; if your actual probability is lower than that, the bet is still -EV, just less negative than before the boost.
Should I always bet the max on a profit boost?
Only when the boosted price is +EV. Sportsbooks cap boost stakes low ($25-$100) specifically to limit how much edge you can extract, so betting the maximum captures the most value on a genuine +EV boost. If it's still -EV after boosting, a bigger stake just loses more on average — size doesn't fix a bad price.